On June 22, 2023, Exchange Traded Concepts LLC’s holdings for Amgen Inc. (NASDAQ:AMGN) rose by 1.9%, according to recent disclosures filed with the Securities and Exchange Commission (SEC). This increase follows the purchase of an additional 1,132 shares in the first quarter of 2023 which saw their total holdings amount to approximately $14,481,000 at the end of that quarter.
For those interested in tracking AMGN stock movement further or examining more detailed disclosures, sites like HoldingsChannel.com offer a wealth of relevant information.
Currently trading at $227.04 on NASDAQ AMGN, market capitalization for the company stands at $121.31 billion with a price-to-earnings ratio of 15.43, a PEG ratio of 1.81, and a beta of 0.64. The company’s fifty-day moving average is $230.28 while its two-hundred-day moving average is $244.22.
Amgen Inc.’s most recent high point took place twelve months ago when the stock landed at $296.67 – although it currently holds tenure near its one-year low point ($211.71).
Looking deeper into the company’s financials reveals current ratios standing at 3:14 alongside quick ratios set at 2:79 and a debt-to-equity ratio of 11:36.
All in all, these numbers reveal much about Amgen’s current position as well as the continually changing landscape of investment practices and prioritizations among hedge funds operating within today’s environment. Only time will tell whether these trends continue or shift course for this market giant and others like it – but for now investors are keeping a close eye on all relevant data points to make informed decisions accordingly with regard to future investments in healthcare-oriented securities such as AMGN stock and beyond.
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Amgen sees significant increase in position from hedge funds and institutional investors
Amgen, the global leader in the development and manufacturing of human therapeutics, has been making headlines recently due to the significant increase in position from hedge funds and institutional investors. Leelyn Smith LLC raised its share by 80.3% during the third quarter, and now owns 110 shares worth $25,000. Glassy Mountain Advisors Inc. acquired a new position during the fourth quarter valued at $26,000 while Legacy Bridge LLC lifted its positions in shares of Amgen by 930% during the same period.
Several equities research analysts have commented on Amgen’s shares recently with Wells Fargo & Company upgrading them from an “equal weight” rating to an “overweight” rating. The average price target for Amgen is presently estimated at $250.94 on account of rising earnings per share (EPS) in recent quarters.
Amgen is focused primarily on areas including inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology and neuroscience areas with their product line ranging from Enbrel for plaque psoriasis to Repatha which reduces the risk of myocardial infarction.
Amgen last posted quarterly earnings results on April 27th with a reported EPS of $3.98 beating expectations by $0.14. The company also had revenue of $6.11 billion for that same quarter which was slightly lower than expected nonetheless heightened expectations regarding future performance prevail.
With regards to holdings and trade insights into Amgen’s stock movements at large, investors can visit HoldingsChannel.com where they’ll find pertinent information about various hedge fund investments alongside up-to-date insider trade information- crucial components for informed investing decisions moving forward whether one leans towards an optimistic or pessimistic perspective concerning future shareholder value trends.
